Chipotle Mexican Grill, Inc. $CMG Shares Purchased by Park National Corp OH

Key Points

• Park National Corp OH increased its Chipotle stake by 442.1% in the third quarter, owning 309,327 shares valued at approximately $9.88 million. Institutional investors and hedge funds collectively own 91.3% of CMG.
• Analysts maintain a generally positive outlook, with 23 Buy ratings and 10 Holds producing a “Moderate Buy” consensus and an average price target of $43.91.
• Chipotle shares fell 4.9% to $30.77, while the company’s latest quarterly results slightly exceeded expectations: EPS was $0.33 versus $0.32 expected, and revenue rose 9.3% year over year to $3.35 billion.

Park National Corp OH lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 442.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,327 shares of the restaurant operator's stock after purchasing an additional 252,265 shares during the period. Park National Corp OH's holdings in Chipotle Mexican Grill were worth $9,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in Chipotle Mexican Grill by 1.9% in the fourth quarter. Groupama Asset Managment now owns 15,596 shares of the restaurant operator's stock valued at $568,000 after buying an additional 291 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Chipotle Mexican Grill by 2.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator's stock worth $407,000 after purchasing an additional 311 shares in the last quarter. ANB Bank lifted its holdings in shares of Chipotle Mexican Grill by 5.8% in the first quarter. ANB Bank now owns 6,317 shares of the restaurant operator's stock valued at $202,000 after purchasing an additional 349 shares in the last quarter. State of Wyoming boosted its position in shares of Chipotle Mexican Grill by 10.9% during the first quarter. State of Wyoming now owns 3,759 shares of the restaurant operator's stock worth $120,000 after buying an additional 368 shares during the period. Finally, Valmark Advisers Inc. grew its holdings in shares of Chipotle Mexican Grill by 2.9% during the first quarter. Valmark Advisers Inc. now owns 13,275 shares of the restaurant operator's stock worth $425,000 after buying an additional 377 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMG. Mizuho reaffirmed an "outperform" rating and set a $43.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Guggenheim reaffirmed a "neutral" rating and issued a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. DA Davidson lifted their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Citigroup cut their price target on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.91.

Insider Activity at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.45% of the company's stock.

Chipotle Mexican Grill Trading Down 4.9%

Shares of NYSE:CMG traded down $1.59 on Monday, hitting $30.77. The company had a trading volume of 13,545,004 shares, compared to its average volume of 17,365,941. The stock has a market cap of $38.94 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.98 and a beta of 0.96. The stock has a 50 day moving average price of $34.79 and a 200 day moving average price of $33.61. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. Chipotle Mexican Grill's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.

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